Canada Silver Cobalt Works Files Preliminary Base Shelf Prospectus
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company” or “Canada Silver Cobalt”) announces that it has filed a preliminary short form base shelf prospectus with the securities commissions of each of the provinces of Canada except Québec. The base shelf prospectus, when final, will allow Canada Silver Cobalt and/or certain of its security holders to qualify the distribution by way of prospectus of up to $30 million of common shares, preference shares, subscription receipts, warrants, debt securities and units, or any combination thereof, from time to time during the 25-month period during which the shelf prospectus is effective. The specific terms of any future offering will be established in a prospectus supplement to the shelf prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.
A copy of the preliminary short form base shelf prospectus is available under Canada Silver Cobalt’s profile on SEDAR at www.sedar.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for Q1 2022.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Begins Commissioning Secondary Crushing Circuit at Its Temiskaming Testing Labs
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it will begin commissioning the secondary crushing circuit at its TTL (Temiskaming Testing Labs) bulk processing facility located in Cobalt, Ontario.
“Since acquiring the TTL facility, we have rebuilt the secondary crushing circuit and completed other upgrades. We are now able to proceed with commissioning and optimization. This puts the Company in an excellent position to proceed with its plans to produce concentrates and silver dore bars in a fast-track development model,” commented Frank J. Basa, P.Eng.
Canada Silver Cobalt recently acquired the TTL assay laboratory and bulk sampling/processing facility, which was a government-run facility for several decades serving many of the area’s silver mining companies. The facility is a complete high-grade processing plant that can take mineralized material from the mine to produce high-grade concentrates and dore bars. The processing facility is closed loop and does not produce any waste by-products. All slags and mineral rejects are further reprocessed offsite for residual metal recovery. The facility can process and pour over 1 million ounces of silver into dore bars on an annual basis.
The Company has engaged a contract lab operator to operate the assay lab independently of the Company. At the same time, it has proceeded in the other part of the facility to upgrade the bulk processing equipment and bullion furnace. The secondary crushing and screening circuit has been rebuilt with a processing capacity rated at 18-20 tonnes per hour. In addition, the bullion furnace has been relined and has been used to pour the first silver dore bars in the Cobalt Camp from the high-grade silver waste pile rejects at the Castle Mine.
The bulk processing facility will be used initially to produce concentrates for the Re-2Ox pilot plant and to pour final silver dore bars from the mineralized material that will be recovered from the former underground Castle Mine and from the potential ramp at the Castle East Robinson Zone where a 60,000-meter drill program is currently underway. For the commissioning, the Company plans to use mineralized material it expects to receive from the nearby Granada Gold Mine.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Frank J. Basa, P.Eng., Chief Executive Officer of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for Q1 2022.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Granada Gold Hits 7.63 g/t Gold Over 5 Meters Including 53.5 g/t Over 0.65 Meters During Infill Drill Program
Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF)) (Frankfurt:B6D) (the “Company” or “Granada”) is pleased to announce additional drill results from its on-going drill program at its Granada Gold Mine Project near Rouyn-Noranda along the prolific Cadillac Break in northwestern Quebec’s Abitibi region.
Drilling Highlights:
GR-16-14W1 intersected 2.82 g/t over 1.0 m at 852.65m
GR-16-14W2 intersected 4.26 g/t over 1.0m at 907.85m
GR-16-14W3 intersected 7.63 g/t over 5.0 m at 886.0 m
GR-21-01 intersected 7.55 g/t over 1.0 m at 314.75 m
GR-21-02 intersected 7.91 g/t over 1.0 m at 363.85 m
GR-21-12 intersected 4.68 g/t over 1.25 m at 457.45 m
“The objective was to drill under the pit-constrained resource and at depth – in order to increase the quantity and quality of the mineral resources. These latest drill results – from new holes and wedges off existing holes – show intersections of gold of economic grade near the surface, under the pit-constrained resource and at depth. This supports the view that a significant increase in our next resource update is possible,” said Frank J. Basa, P.Eng., President and CEO.
This news release presents available partial results of diamond drill wedge holes off GR-16-14 as well as infill holes between GR-11-362 and GR-11-393. The mineralized structures were intersected at various depth in each wedge showing the continuity of the structures with gold grade variability, confirming the continuation of mineralized veins.
Holes GR-21-01 and GR-21-02 were drilled to bridge a 100m gap between GR-11-362 and GR-11-393 under the pit-constrained resource. Partial results are disclosed. GR-21-12 was drilled to identify continuity of gold zones on the eastern edge of the orphan tailings.
Table 1: Structures intersected assay results
Lengths are core length, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method.
Table 2: DRILL HOLE LOCATION DATA – Wedges inserted at 424m depth and above
The 2021 Exploration program
The 2021 drill program is aiming to fill the gaps allowing additional mineral resources to be developed while simultaneously testing the continuity of the structures with the 200-series holes.
In addition, holes are being drilled to verify the extension of structure and gold mineralization under the orphan tailings area.
The drill program has completed 30,000 meters to date and will be paused to give the technical team the time to evaluate and assimilate all existing data as well as to incorporate the laboratory results which are lagging due to ongoing delays in turnaround times across the industry.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. m ember of Québec Order of Engineers and a qualified person in accordance with National Instrument 43- 101 standards.
Quality Control and Reporting Protocols
All NQ core assays reported for Wedges of 2020 holes were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at SGS Laboratory in Vancouver where sample preparation is done in Val d’Or, Québec. The 2021 assay results are from ALS laboratory in Val d’Or. The screen assay method is selected by the geologist or geological engineer when samples contain visible gold. The drill program, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes for this program in addition to the lab QA/QC.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 150,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property. But is not necessarily indicative of mineralization hosted on the company’s property.
Updated Mineral Resource
The updated resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec was estimated by SGS Canada and outlined in a January 29, 2021 news release. The final report was filed March 15, 2021 with an Effective date of December 15, 2020. The 43-101 Technical Report is titled: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, géo. Both of SGS Canada Inc.
Updated Mineral Resource Estimate Base Case with Details for both the Open Pit Portion and the Underground Portion
- 1. Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of US$0.76 for CA$1, a gold recovery of 93%
- 2. Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell
- 3. Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
For further information, please contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or
Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Canbud To Enter U.S. Analytical Testing Services Market – Signs LOI To Acquire Steep Hill Inc.
Canbud Distribution Corp. (CSE: CBDX) (FSE: CD0) (the “Corporation” or “Canbud“) is pleased to announce that, on August 7, 2021, it entered into a non-binding Letter of Intent (the “Letter of Intent“) with Steep Hill Inc.(“SH“) in respect of a proposed transaction (the “Proposed Transaction“), whereby the Corporation would acquire all of the issued and outstanding common shares of SH.
SH, the first commercial cannabis laboratory founded in 2008, is one of the premier privately-held analytical testing services companies in United States. SH’s primary business is the licensing of its brand, trademark, licensed lab testing procedures and software to its licensees conducting analytical testing of cannabis and hemp products under the name “Steep Hill”. The company’s flagship laboratory is based in Berkeley, California. SH has license agreements in 12 territories the United States. and Mexico, whereby the company provides its analytical testing expertise.
The Proposed Transaction is expected to allow Canbud to build on its recently concluded acquisition of Canadian lab testing company Molecular Science Corp. (“MSC“), as Canbud expands its presence to the United States in a critical area within the cannabis sector and the emerging psychedelics sector.
The Proposed Transaction
The Proposed Transaction is expected to be structured as by way of a statutory merger, share purchase or other similar form of transaction and the holders of common shares of SH immediately prior to the acquisition would receive an aggregate of 82,000,000 common shares of the Corporation in exchange for their common shares of SH. Upon closing of the Proposed Transaction, the Corporation may also issue up to 2,870,000 common shares of the Corporation as a finder’s fee (the “Finder’s Fee Shares“). The Proposed Transaction is subject to receipt of all necessary regulatory approvals, including, as applicable, approval of the Canadian Securities Exchange (“CSE“), and certain other conditions as described below.
Upon closing of the Proposed Transaction, the outstanding capitalization of the Corporation is expected to consist of approximately 238,061,493 common shares and, options and warrants to purchase 14,526,000 and 49,630,491 common shares of the Corporation, respectively, excluding any Finder’s Fee Shares issued. Current SH shareholders are expected to own approximately 34% of the Corporation’s common shares on a non-diluted basis, and 27.1% on a fully-diluted basis, before giving effect to the issuance of any Finder’s Fee Shares. Prior to closing, all outstanding debt of SH will be converted into equity.
The Corporation and SH agreed to negotiate in good faith the terms of a definitive agreement, to be finalized and approved by September 15, 2021, with respect to the Proposed Transaction following the date of the Letter of Intent. As per agreed terms, following execution of the Letter of Intent, the Corporation has made available to SH a loan (the “Loan“) of US$250,000, to be used by SH for working capital purposes. In the event that the definitive agreement is terminated (other than as a result of any breach of its terms by the Corporation), then the principal amount advanced under the Loan would become due and payable within 90 days.
The common shares of the Corporation issued in exchange for SH common shares would be subject to resale restrictions, such that the holders would be permitted to trade 25% of such shares only after three months from closing and a further 25% of such shares after each successive three-month period thereafter until the date that is 15 months from the closing date.
Completion of the Proposed Transaction would be subject to a number of conditions, including, without limitation, the following:
- receipt of the required approval for the Proposed Transaction from the shareholders of SH by September 15, 2021;
- receipt of all regulatory approvals (including applicable CSE approvals for the listing of the common shares of the Corporation issuable to the security holders of SH);
- confirmation that there having been no acquisitions or disposals (other than in the ordinary course of business), no debt or equity capital raisings (excepting for the Corporation), no new material contracts (excepting for the Corporation) or related party transactions and no loss of any material license;
- no material adverse change affecting SH or the Corporation; and
- such other conditions as the parties decide are reasonable in the context of the Proposed Transaction.
The Proposed Transaction would be an arms-length transaction for the Corporation and would not constitute a fundamental change or result in a change of control of the Corporation, within the meaning of the policies of the CSE.
Steve Singh, CEO, Canbud, notes: “We are extremely pleased to announce the Letter of Intent to acquire Steep Hill, a leading U.S. analytical services company. This builds upon the July 2021 acquisition of Molecular Science Corp. (“MSC“) and, combined with the recently received Dealer’s License from Health Canada by MSC, provides the Canbud platform with a strong footing to become a key cross-border service provider in the cannabis and emerging psychedelics sectors. Entry into the United States was one of the key growth strategies identified by management, and the proposed SH acquisition would represent the execution on this goal. The Proposed Transaction expands the Corporation’s geographic footprint into the United States ahead of expected federal deregulation, and creates a premier, mission-critical ancillary services provider to Canadian licensed producers and U.S. Multi -State Operators (“MSOs”).”
Nigel Stobart, CEO, Steep Hill Inc. stated: “We are excited to be partnering with Canbud to help accelerate Steep Hill’s geographic expansion into new markets, serve its existing and future licensees with stronger resources, and continue its pursuit to be the global leader in plant-based science. As part of Canbud, we believe that the growth trajectory of Steep Hill will only be accelerated. We currently serve 12 territories in the U.S. and Mexico, and we look forward to expanding that footprint dramatically upon completion of the Proposed Transaction. In addition, our ability to serve our current licensees will be significantly enhanced with addition of the scientific expertise of MSC. Canbud recognizes the value of the Steep Hill brand name in the U.S. marketplace, and we are pleased that it will continue on after the Proposed Transaction.”
Canbud approves issuance of stock options
The Company announces the grant of stock options (each an “Option”) pursuant to the Company’s stock option plan. The Company has granted an aggregate of 7,000,000 Options to certain directors, officers, employees and consultants of the Company, including to executives and employees at its wholly owned subsidiary, Molecular Science Corp. The Options are exercisable at a price of $0.10 per Option. The Options granted vest in four months and expire on August 05, 2026. Each Option is exercisable to purchase one common share in the capital of the Company.
About Steep Hill Inc.
Steep Hill Inc. (SH) is a leading cannabis science company with significant footprints in lab testing and research and development. Steep Hill’s foundation was built on testing and analyzing medical and recreational cannabis to ensure compliance with current safety standards. In 2008, Steep Hill opened the first commercial cannabis lab in the United States. Steep Hill is currently expanding throughout the United States, and globally. With the goal of helping the rest of the world adopt “best practices” in cannabis testing, the company also provides expert consulting services to many regions around the world. Steep Hill: “Globally Driven. Locally Focused.”
About Canbud Distribution Corp.
Canbud is a science and technology health and wellness company carrying on business in the plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoid (CBD) vertical markets.
www.steephill.com
www.canbudcorp.com
- Published in Canbud Distribution, News Home
Canada Silver Cobalt Intersects 30,416 g/t Silver over 0.42m with 425 g/t Gold Equivalent in New Vein at Castle East
Three impressive new intercepts add two new high-grade vein structures separate from both the Robinson Zone and Big Silver and bring the silver even closer to surface.
Coquitlam, BC – TheNewswire – August 9, 2021 – Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce a continued expansion at Castle East with three new, high-grade intersections with silver grades of 30,416.91 g/t over 0.42m, 7,328.47 g/t over 0.38m, 1,883.21 g/t Ag over 0.42m, and with gold equivalent grades of 425.94 g/t, 102.62 g/t, 26.37 g/t AuEq respectively.
Drilling Highlights:
- – Hole CS-21-61 with an exceptional intercept grading 30,416.91 g/tonne silver (887.31 oz/ton Ag) over 0.42m at a downhole depth of 449.55-449.97m with a gold equivalent grade of 425.94 g/tonne Au (12.42 oz/ton Au ). This incredibly mineralized vein is located 35m south from the Robinson Zone discovery hole CA-11-08, and 60m west of Big Silver discovery hole CS-20-39. The Company currently believes this intercept belongs to a brand-new vein structure, independent from both the Robinson Zone and the Big Silver vein.
- – The first intercept in hole CS-21-65 contains 7,328.47 g/tonne silver (213.77 oz/ton Ag) over 0.38m at a downhole depth of 254.03-254.41m with a gold equivalent grade of 102.62 g/tonne Au (2.99 oz/ton Au). This intercept is located 230m below the surface, 70m to the south and 220m above the Robinson Zone. To date, this is the closest high-grade intercept to surface and is located within Archean lithologies.- The second intercept in hole CS-21-65 contains 1,883.21 g/tonne silver (54.93 oz/ton Ag) over 0.42m at a downhole depth of 421-421.42m with a gold equivalent grade of 26.37 g/tonne Au (0.77 oz/ton Au).
“These three intercepts provide us with two newly discovered, high-grade vein systems. We continue to have excellent results from the 60,000m drill program at Castle East, with 40,000m completed to date. There is now a total of eight distinct high-grade veins to be included in the Q1 2022 resource update. The initial estimate in May 2020 for Castle East (see below) was based solely on the Robinson Zone vein system but recent drilling has discovered an even higher-grade vein (Big Silver grading 89,853 g/t Ag over 0.30m) in addition to six other new vein structures, and our exploration program has expanded the overall area to be included in the resource estimate.” said Matt Halliday, P.Geo., President, and COO.
The geological implications of these veins are threefold: First, the addition of another exceptionally high-grade vein in CS-21-61 puts us that much closer to significant expansion of the resource at Castle East. Second, the high-grade silver vein in CS-21-65 (that is 230m below the surface) confirms the existence of much shallower silver mineralization at Castle East. Third, it greatly expands the potential for silver mineralization to occur across the entire property because it occurs within the Archean lithologies. Most of our high-grade or notable veins are located within the younger Nipissing Diabase sill which is intruding into the older Archean rocks. This means that it is possible for further silver mineralization to occur in the same Archean lithologies both above and below the Nipissing Diabase, similarly to the vein found in CS-21-65 that is located above the intrusion. As a further proof of concept, both the Beaver Mine and Temiskaming Mine had significant production both above and below the Nipissing diabase intrusion. This ultimately expands the potential horizon within the property and is very encouraging for future exploration.
Table 1 : Sample Details
Note: Gold equivalent (AuEq) is calculated based on USD $25.37 oz/ton Ag and USD $1811.72 oz/ton Au as of August 5 th , 2021.
Click Image To View Full Size
Figure 1: Close-up of mineralization in hole CS-21-61 (30,416.91 g/tonne Ag). One can see the intense Cobalt mineralization occurring as the dark grey minerals within the vein. The bright silver is located within the cobalt clusters as well as lining the edge of the vein and radiating outwards.
Ongoing drilling in the Castle East area is geared toward identifying new veins to enable significant expansion to the existing resource panels outlined in the Company’s maiden Resource Estimate reported in a news release May 28, 2020. The resource estimate identified zones 1A and 1B of the Robinson Zone with an average silver grade of 8,582 g/t ( 250 oz/ton ) in a combined 27,400 tonnes of material for a total of 7.56 million Inferred ounces of silver using a cut-off grade of 258 g/t AgEq (mineral resources that are not mineral reserves do not have demonstrated economic viability). Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada , with an effective date of May 28, 2020 and a signature date of July 13, 2020.
Location
The Castle Property is 15 km east of Aris Gold Corp’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for Q1 2022.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com .
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Works Acquires Prospective Gold Property Near Kirkland Lake Gold’s Macassa Mine
The acquisition of this highly prospective property places the company in the middle of the most prolific high-grade gold-bearing areas in Northern Ontario that have produced 24 million ounces of gold in the last 100 years.
Coquitlam, BC – TheNewswire – August 3, 2021 – Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it has entered into an Option Agreement dated July 28, 2020 to acquire the Eby-Otto Township property (the “Property”) from geologist Doug Robinson, P.Eng., and prospector James Reed .
Acquisition Highlights:
- – Property lies within the prolific Kirkland Lake district and is located within 5 km of the high-grade Macassa Gold Mine currently operated by Kirkland Lake Gold.- Property contains approximately 200-hectares with a strike length of over 2 km.- Numerous strongly altered and mineralized quartz veins outcropping at surface have been discovered. The mineralization and alteration are highly favorable in addition to being typical of other gold-bearing veins in the district.- Preliminary channel sampling has been recently completed with the assays pending.- Property comes highly recommended by Doug Robinson, a long-time geologist who originally discovered Canada Silver Cobalt’s Robinson Zone, and Jim Reed, an experienced prospector highly familiar with the area.- Acquisition allows the company to expand our precious metals portfolio into the well-established Kirkland Lake Gold camp as well as the prolific Larder Lake-Cadillac Break system.
“Doug Robinson is a highly respected geologist with an exceptional record of precious metal discoveries over the past 50 years. He served as underground mine geologist for Agnico Eagle Mines in the Greater Silver-Cobalt Camp in the 1980s and more recently as a geological consultant for Canada Silver Cobalt Works’ Castle property. His work for us led to the first major discovery of the exceptionally high-grade silver veins at Castle East which produced the world’s Highest Pure Silver resource and we named it the Robinson Zone in his honour,” said Frank Basa, P.Eng., Chairman and CEO.
“ The property we are acquiring from Doug Robinson and Jim Reed is the core mining claim package they have retained over the years representing the most prospective of the over 100 claim units they held since the 1990s near the high-grade Macassa Gold Mine. They have completed a significant amount of work at the property including an airborne drone-based geophysical survey along with substantial hand stripping and have identified several drill targets. We are very pleased that Doug will continue to be involved as a consultant to Canada Silver Cobalt Works and will assist in the next steps in continuing gold exploration at the acquired property,” Mr. Basa stated.
Terms of the Acquisition
Claim holders Doug Robinson and James Reed grant the option to Canada Silver Cobalt Works Inc. to acquire, over a period of 5 years, 100% of the Property in return for cash payments totalling $364,000, the issuance of 800,000 common shares of Canada Silver Cobalt Works and incurring a total of $2.4 million in exploration expenditures on the Property. In addition, Reed and Robinson will retain a 3% royalty if Canada Silver Cobalt Works completes the entire option. Canada Silver Cobalt Works will be the operator and will manage all exploration work throughout the term of the option.
All shares issued are subject to a 4 month plus one day hold period in accordance with applicable securities laws.
Details of the Property
The property that is being acquired by Canada Silver Cobalt Works is in an area that has long held the interest of geologists because of its close proximity to the high-grade underground Macassa Gold Mine, currently operated by Kirkland Lake Gold. The South Mine Complex at Macassa is characterized by structurally controlled zones of finely disseminated pyrite, visible gold and tellurides and consisting of wide, gold-bearing alteration and mineralization haloes. The Macassa Gold Mine, which commenced operations in 1933, has produced more than 5 million oz gold, has benefited from new discoveries within its property over the years, and still has one of the highest reserve grades in the world (21.9 g/t Au, according to the Kirkland Lake Gold website). The greater Kirkland Lake area, situated along the Larder-Lake Cadillac Break has produced over 24 million ounces of gold. Geologists and major exploration companies have been searching for significant gold west of the Macassa Mine for decades. Doug Robinson and partners have based and focussed their exploration efforts on a significant displacement along the Amikougami Creek Fault located west of the Macassa Mine.
In the 1990s, Doug Robinson and James Reed controlled over 100 claim units in this area, representing 15 km parallel to the Larder Lake-Cadillac Break system that contains the gold of Kirkland Lake. After mapping over 1,214 hectares (3,000 acres) and running over 200 km of ground-based geophysics, the best claims were retained, and they form the core of the current property representing over 2 km strike length of potential extension of mineralized host rock. The claims are located just east of Highway 11 and just touching Highway 66 to the North. Other major infrastructure potentials include the railway just north of the claims, plus access to an electrical grid and natural gas.
The property hosts several quartz veins up to 0.45 metre wide at surface with significant albite and carbonate alteration that are typical of gold veins hosted in the Larder Lake-Kirkland Lake main break system. Some of the veins also contain pyrite mineralization and albite alternation which are considered a favourable host for gold mineralization and may be a vector into high-grade gold mineralization below the surface. In addition, two of the prime mineralized veins occur within fault zones which are also a favourable ore environment in the Kirkland Lake gold camp.
While the core of this claim group has been continuously controlled since the 1980s, the property has experienced significant work recently including an extensive hand stripping program where substantial channel sampling was completed and assays are pending as well as the completion of a 58-km drone-based airborne magnetometer survey. Initial work in the months ahead will focus on stripping and channel sampling while permits for drilling are obtained.
Further details of the property can be viewed at www.kirklandgold.com or at the following link Eby-Otto Gold Property .
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Frank Basa, P.Eng., Chief Executive Officer of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system in the Castle East area 1.5 km from the past-producing Castle Mine near Gowganda, Ontario in the prolific high-grade Silver District of Northern Ontario, with drilling intercepts at Castle East ranging up to 89,853 g/t Ag (2,621 oz). The Company released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver ( 8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone beginning at a vertical depth of approximately 400 meters, was identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada , with an effective date of May 28, 2020 and a signature date of July 13, 2020).
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at Castle, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canbud Subsidiary, Molecular Science Corp., Receives Dealer’s License – Becomes One of Very Few Organizations Able To Work With Psilocybin with Health Canada Approval
Canbud Distribution Corp. (CSE: CBDX) (“Canbud” or the “Corporation”) is pleased to announce that its wholly-owned subsidiary, Molecular Science Corp. (“MSC” or the “Company“), a leading GMP analytical services company, has received its Dealer’s License from Health Canada on July 30, 2021. As a result, MSC has become one of very few organizations able to work with Psilocybin with Health Canada approval
This significant milestone expands MSC’s current licensed capabilities to include the possession, sale/provision, transportation, and testing of controlled substances including Psilocybin, Ketamine, and N-3,4 Methylenedioxyamphetamine. Obtaining this license enables MSC to rapidly integrate and establish itself as one of leaders in the emerging analytical support network that will be integral to product safety and quality as demand grows for these substances of interest in Canada and internationally
Industry analysts estimate strong growth for this emerging sector over the next decade. Data Bridge Market Research estimate the psychedelic drugs market to increase at CAGR of 13.3% during 2021 to 2028, reaching US$ 7.6 billion from US$ 2.8 billion in 2020 (https://www.globenewswire.com/news-release/2021/07/14/2263133/0/en/Psychedelic-Drugs-Market-CAGR-at-13-3-with-Analysis-of-Growing-Technology-Trends-Industry-Research-Future-Growth-and-Size-Projection-by-2028.html).
Increased approval for medical use purposes to support mental health is estimated to be the key driver of growth globally, and especially in North America.
Steve Singh, CEO, Canbud, notes, “Ensuring drug product safety and quality requires analytical testing labs be held to a high standard in their methods and practices. MSC is committed to providing a level of service and operation that exceeds the standards set out by Health Canada and is focused on being among the leaders in analytical testing in Canada and globally. Since 2018, MSC has offered a wide array of standard and custom analytical services primarily focused on cannabis and cannabis-derived products, including active pharmaceutical ingredients. This license gives MSC the opportunity to expand its offerings and expertise into an emerging sector with increasing demand for advanced analytical support.”
“MSC continues to expand its service offering into cutting edge research areas such as psychedelics. This licence allows MSC to support and partner with formulations developers, producers and researchers in exciting new areas to drive development and growth for MSC,” states Mauro Aiello, Interim CEO of MSC.
About Molecular Science Corp.
Molecular Science Corp. (MSC) is a leading analytical services company focused on quality and safety of products containing cannabis and/or other controlled substances, including pharmaceutical products containing these substances. MSC operates a GMP laboratory in Toronto, Ontario under a Health Canada Analytical Testing License for cannabis, a Drug Establishment License and now, a Dealer’s License. The company is committed to providing cannabis and pharmaceutical companies the tools and services they require to succeed with product quality and safety.
About Canbud Distribution Corp.
Canbud is a science and technology health and wellness company carrying on business in the plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoid (CBD) vertical markets.
www.mscience.ca
www.canbudcorp.com
- Published in Canbud Distribution, News Home
BC Hydro Approves Power Service to Affinor Growers Vertical Farming Showcase in Abbotsford BC
Affinor Growers Inc. (“Affinor” or the “Company”) (CSE: AFI OTCQB: RSSFF) is pleased to announce BC Hydro has completed their final inspection and has scheduled connection of the main power supply to the new greenhouse on or before Aug 15th 2021.
This greenhouse construction milestone enables Affinor management to plan and commit to timelines for year-round, commercial strawberry production. The 15,000 sf, showcase, polycarbonate greenhouse is substantially complete. The Company expects to deliver vine ripened strawberries to local markets later this year.
Affinor CEO Nick Brusatore comments: “Getting this first facility up and running begins our 5 year business plan to grow across Canada. Leveraging our patented technology and QA processes is initially focused on strawberries, but soon we expect to expand into other fresh food products and high quality, sustainable cannabis micro-cultivation.”
About Affinor
Affinor is a publicly traded company listed on the CSE under the symbol “AFI” and on the OTCQB under the symbol “RSSFF”. Affinor is focused on developing vertical farming technologies and using those technologies to grow fruits, vegetables and cannabis in a sustainable manner.
To learn more about Affinor, visit: www.affinorgrowers.com
- Published in Affinor Growers, News Home